Manufacturing output prices over 1 percent up

28/02/2019 15:00
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were 1.2 percent up in January 2019 year-on-year. The price increase was higher than in the previous month, when prices in manufacturing were up by 0.6 percent.

Crude oil price down

In January 2019, the price of a barrel of crude North Sea Brent oil was almost 53 euros, almost 7 percent lower than in January 2018. In December 2018, the crude oil barrel price stood at 51 euros, over 5 percent down on December 2017.

Output prices are strongly affected by crude oil price developments. In January, prices of petroleum derivatives decreased by over 6 percent year-on-year. In December, prices decreased by over 5 percent.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were almost 1 percent lower in January than in the same month last year. In December, prices increased by over 1 percent year-on-year.

Prices in several other sectors of manufacturing, however, were higher than in January 2018.